Seven years after he famously declared that he had peered into the Russian President's 'soul', US President George Bush is holding his final meeting with Vladimir Putin today, in an attempt to patch up the US's battered relationship with Russia.

Bush, who arrived last night in the Black Sea resort of Sochi, is holding talks with Putin on the contentious US plans to install an anti-missile defence system in central Europe. It will be the last encounter between the two world leaders before Putin leaves office on 7 May.

They are expected to sign a 'strategic plan' setting out the future direction of the US-Russian relationship. Both leaders are likely to adopt a friendly tone - with Bush keen to present today's 'roadmap' document as a rare foreign policy success.

Last night, however, analysts said there was little prospect of any meaningful breakthrough on the issue that divides both sides - the Pentagon's plan to install a missile interceptor and radar system in Poland and the Czech Republic respectively, allegedly to shoot down any rogue missiles fired by Iran.

Nato agreed to support the controversial American proposal during its Bucharest summit last week. But Russia remains vehemently opposed - arguing that the system upsets Europe's strategic balance. It also believes that the threat from Iran is non-existent.

Bush is expected to offer Putin guarantees that the system will be used only in the event of a verifiable Iranian threat. Russian officials, meanwhile, expressed confidence last night that the system would never be built - with either a Democrat-controlled US Congress shooting down the plan, or a possible democratic revolution in Iran.

One leading foreign affairs specialist said today's deal was likely to be strong on rhetoric and weak on substance. 'A roadmap sounds impressive and dynamic. At the same time it's absolutely non-binding and has no legal status,' said Fyodor Lukyanov, editor-in-chief of the journal Russia in Foreign Affairs

As well as holding talks with Putin, Bush will also meet for the first time Dmitry Medvedev, Putin's presidential successor. The talks are also expected to include a discussion on terrorism, Russia's offer to provide a transit corridor to supply Nato troops in Afghanistan, and arms control. Bush has shown scant interest in arms reduction, but is now reportedly keen to negotiate a successor treaty to Start II, which obliges Russia and the US to reduce nuclear warheads and expires in 2012.